Getting into your numbers mini-series part 2:
A Visionary who was great at onboarding clients, didn’t really worry when he lost a few small accounts. He knew he could easily get new ones. It wasn’t until a big client left that he thought to count up the value of small clients he had lost that year – it came to $500,000! Clearly there was a big leak in this business – why were all those clients leaving? Good overall revenue hid the leak until he looked more closely at the figures. But with the leak in the business, then next year he might have lost another $500,000, or he might have lost $2MM. Without being on top of what’s happening in the business, he has no control whatsoever over whether he was losing or earning money at any point in time. He was playing with some important numbers but leaving his revenue and profit to chance.
Are you looking at the whole picture in your business? Or just one or two metrics? If you’d like to simplify and grow your business, and take home more profit, you need to get into these numbers! Email rhoda@rhodagold.com for your free consultation.
Read the next in the mini-series: 3. The price of unexamined success